Coronavirus has left a devastating impact on economies across the world as well as on the physical health of millions.
Businesses have been forced to close, adapt or otherwise weather the disruption while increasing numbers of cases have caused stock markets to plummet.
Lockdown – introduced 100 days ago in the UK – led to sparse high streets and planes forced to stay on the tarmac, but the expected reopening on July 4 is a silver lining for many businesses.
– The FTSE 100 – the index of the largest UK companies – opened the year at 7,542.44 on January 2 and closed on June 30 at 6,169.74, a drop of 18.2% in six months.
– It dipped under the 5,000-point barrier on March 23, the day when Prime Minister Boris Johnson announced a UK-wide partial lockdown.
– The FTSE 250 index – which contains more UK-focused firms – started the year at 21,883.40 and has since suffered a 21.7% fall to close on Tuesday at 17,119.16.
– Other FTSE 100 firms to experience price rises include Reckitt Benckiser (19.87%) who make Dettol, Nurofen, and Cillit Bang, and Flutter Entertainment – the holding company containing Paddy Power and Betfair – which has risen 13.99% despite the cancellation of many sporting events.
– Travel and entertainment companies in the FTSE 250 have taken a strong hit over the past six months with Cineworld down 72.5%, Carnival down 73% and one of the world’s largest tour operators TUI falling 61.6%.
– Two online fashion retailers listed on the Alternative Investment Market have also seen growth in share price as high street sales collapsed. Boohoo.com is up 37.8% since January 2 while Asos is trading at 3,423p, up 3% since the start of the year.
– Outside the UK, video communications company Zoom has become a household name as more companies have used the platform to stay in touch with employees working from home while friends have caught up using the software. The growth in customers has been matched with a 268% increase in share price in six months to 253.54 dollars.
– One of the most significant impacts of the lockdown and Covid-19 more generally has been employment. Early indicators for May from the Office of National Statistics suggested the number of employees in the UK on payrolls is down over 600,000 compared with March.
– Companies have also suggested further cuts are on the horizon, with Royal Mail announcing 2,000 job losses last week following similar news from firms including British Gas owner Centrica and airlines easyJet and British Airways.
